Saxo Bank
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Score
Business Scope
9.0
Trading Cost
4.9
Trading Platforms
4.9
Support
4.9
Licence Status
multiple and strict regulation
A A
MAS
B
CBUAE 04.02.01.078.2015.02
B
Danish FSA
Authorised
Authorised
Authorised
Contact
Broker News
Saxo Australia Announces Rebrand to Totality
Jul 01, 2025
Effective August 11, Saxo Australia will rebrand as Totality, following the acquisition of a majority stake by South African financial services firm Direct Market Access.
Saxo Bank Sells Majority Stake in Saxo Australia to DMA
Feb 11, 2025
Saxo Bank has taken another big step in reshaping its global business by selling an 80.1% stake in its Australian division to South African financial firm DMA.
Saxo Bank Names Damian Hitchen as APAC and MENA Regional Head, Mahesh Sethuraman as Singapore CEO
Nov 13, 2024
These appointments follow the departure of Adam Reynolds, who steps down as APAC and Singapore CEO after a decade of service at Saxo.
Account Type
8.7
Very Good
high deposit requirement; leverage limit
Features
Trading Platforms
SaxoTraderGo,
SaxoTraderPRO
Min Deposit
5000.0 USD
Max Leverage 1 : 30
Min Trade Volume
0.01 Lots
Stop Out Level 100%
Commission
0 USD
Spread Type
Variable Spread
Account Currencies
SEK,
CNH,
RON,
ILS,
DKK,
NOK,
TRY,
CZK,
MXN,
CAD,
HKD,
NZD,
ZAR,
SGD,
RUB,
PLN,
HUF,
AUD,
CHF,
JPY,
GBP,
EUR,
USD,
AED
Trading Instruments
Bonds,
ETFs,
Stocks/Equities,
Futures,
CFDs,
Commodities,
Forex/Currencies,
Options
EA
Hedging
Scalping
NBP
Islamic
Deposit and Withdrawal
4.9
Score
free withdrawals
Features
Company and Service
9.0
Outstanding
multilingual support & quick response
Features
Profile
Headquarters Address
Philip Heymans Alle 15
2900
Hellerup
Denmark
Founded 1992
Broker Type
STP
Time Zone GMT
Credit Profile No information
Trading Platforms
Contact
No Data
Others
Website Language
Arabic,
Chinese,
Czech,
Danish,
Dutch,
English,
French,
German,
Italian,
Japanese,
Norwegian,
Polish,
Russian,
Slovak
Customer Service By
Phone,
Email,
Live Chat,
Facebook,
Twitter,
LinkedIn
Supported Language
Arabic,
Chinese,
Czech,
Danish,
Dutch,
English,
French,
German,
Italian,
Japanese,
Norwegian,
Polish,
Russian,
Slovak
Overall Score
4.9
69 Reviews
Cost 4.9
Platforms 4.9
Deposit & Withdrawal 4.9
Customer Support 4.9
Indicates the average level of Brokers
Keywords for selection
Responsive Customer Support
Advanced Trading Platform
Good/Professional Customer Support
69 Reviews Clear filter
Sort by
Liam Hertzberg
Customer support: almost NON-existent.Serious issues handling cases/customer queries/requests or worse, taking action: takes weeks before someone even says Hi.In the financial markets, no matter what is your status, we need a present customer service/support. That only exists for Saxo on paper.In reality, takes Saxo's weeks and even months to even address any issue. We say address... when they even do it, because to resolve it is a hell of another endless story.That is what one should expected from Saxo's service.Maybe if you are a billion dollar customer.. but then, maybe you would not be trading with Saxo on those terms.The only good thing to be said about Saxo is their award winning trading platform.For us, is the second best after Bloomberg's terminal. On that, Saxo's stand out and excel among others, and the truth is to be told.And for that reason we give it 2 stars, and not only 1 star, as we feel they deserve it.Only if all the rest was not that bad... but it's terrible.Saxo should have a more responsive, responsabile and dead-prompt, accessible and knowledgeable team, ready at least during business hours.That could not be far from reality.Saxo does have the looks, but fails to keep their most important source of sustainability... their customer.That is crystal clear to anyone reading the reviews stated here.Steer away from Saxo and go with whom makes you feel more comfortable and welcome to spend your money.Your business, do matter.
Jul 16, 2025
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Matt Letrader
Please stay away from Saxobank. U need only a few minutes for refilling the account, but very difficult to withdraw cash from the account. Last week I sent them a request for withdrawal, but I didn’t receive the answer till today.In particular, I am sending them these requests for withdrawal of my money every day. They replie to do this today, but it had been a week and "breakfasts feed" to this day.Platform is horrible, too much mistakes and delays. I have often observed such a mistake as "internal server error". And if u have not login u can’t remove again ur request, neither set nor change your stop to loss - nothing. If were errors with stop to loss, I losed my money more. They wrote on the their website that for opening the account need two thousand dollars only in the first, but really they require ten thousands. If u haven’t they don’t allow to trade. Saxobank is a SCAMP.Please stay away from them, do not repeat my mistakes.
Jan 30, 2024
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Mich K
Trading CDF based SP 500 and Dow is not recommended with saxobank. Besides that the spreads are wider than other companies, they manipulate the quotes based on the order book. As they use factual pricing as for instance SP500: 849.45/850.46 will give them a fill without the client gets a fill. A limit sell order at 849.50 will not be done before the market goes 849.60 and buy that time they have allready sold position at 849.50 ... if market never go 860 they will run your short trade. The same issue with the dow cfd that also is quoted fractually.
Jan 24, 2024
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Emad
accounts do blow up fast with Saxo, not yours of course because you work there and have never traded in your life. Saxo has bad conditions, end of story. Requotes and cheap margin scams are not to be expected from a bank, but from a bucketshop scandinavian bank...sure why not.
Jan 18, 2024
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alanb
Saxobank dead company without support team. In Saxobank doesn't exist support team, they doesn't answer on me emails. It is SCAM broker.
Jan 12, 2024
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Amirul
Trading CDF based SP 500 and Dow is not recommended with saxobank. Besides that the spreads are wider than other companies, they manipulate the quotes based on the order book. As they use factual pricingas for instance SP500: 849.45/850.46 will give thema fill without the client gets a fill. A limit sell order at 850 will not be done before the market goes 860 and buy that time they have allready sold position at 850 ... if market never go 860 they will run your short trade. The same issue with thedow cfd that also is quoted fractually.
Jan 05, 2024
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Jay Marylyn
I thought this bank/broker was a serious one but it badly screws you.Today alone I made a profit of $30K on a long GPDUSD position. Soon after I received a shocking email from a saxo bank representative called Erdal saying that THEY ARE CHANGING MY TRADES!!!!!!!!!I EARNED THIS PROFIT FAIR AND SQUARE (IN SPITE OF ALL THE SAXO SLIPPAGE AND REQUOTES) AND NOW SAXO BANK IS SIMPLY WIPING OUT MY PROFITS, AND IS IN ADDITION THREATENING ME OF I DON'T KNOW WHAT...THIS IS THE BIGGEST SCAM IN THE WORLD.
Dec 28, 2023
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Mathew
CORRECTION TO PREVIOUS CORRECTION: Trading CDF based SP 500 and Dow is not recommended with saxobank. Besides that the spreads are wider than other companies, they manipulate the quotes based on the order book. As they use factual pricing as for instance SP500: 849.45/850.46 will give them a fill without the client gets a fill. A limit sell order at 849.50 will not be done before the market goes 849.70 bid and buy that time they have allready sold position at 849.50 ... if market never go 849.70 bid they will run your short trade. The same issue with the dow cfd that also is quoted fractually.
Dec 26, 2023
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Disappointed Client
Friday afternoon you better not even trade. The margin call shoots up to 4%. They must spend the whole weekend laughing with the extra bucks made.I only lost around 4 thousand EUR, but I learned my lesson well.My friends and business partners are advised about this SuX-o-bank
Dec 20, 2023
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Jorge Francisco
when Money matters open a real bank account.When you open a real bank account you will be the one that is interested to open the account. You will not be getting hundreds of calls from the supposed bank. The real bank account works like this:You either visit the bank or open the account by mail though it is not just sending scannned copies of contract or IDs.You will have to :Send hard copy of pasport notarized by public notary. Sometimes a letter from other bank, it is a letter of recommendation.Hard copy of contracts sign and dated.And Bank has to be authorized to be securities dealer and authorized to be a BANK .
Dec 14, 2023
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